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Nov 9, 2012
11/12
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. >> reporter: while president obama and house speaker boehner both say they're open to new ideas, wall streeters remain cautious about the fiscal cliff. meridien equity partners' joe greco says the market doesn't expect it to be resolved this year. >> i think we're going to see a push pull back and forth and we're probably not going to see much compromise until mid to late january. if we don't get things in order by february that's when things can start to get ugly for the markets. >> reporter: with so much short- term risks, greco says retail investors are sitting on the sidelines until congress and the president reach consensus on the fiscal cliff. he says today's buyers were mostly institutional investors. >> you're going to see the bulk of volume just sit it out. because that has been what's worked in the past. if you have a position already it's probably a longer range view in which case no reason to mess around with it in the intermediary push pull. >> reporter: greco says the cliff isn't the market's only challenge. there's still europe's debt crisis and here at home. a long way
. >> reporter: while president obama and house speaker boehner both say they're open to new ideas, wall streeters remain cautious about the fiscal cliff. meridien equity partners' joe greco says the market doesn't expect it to be resolved this year. >> i think we're going to see a push pull back and forth and we're probably not going to see much compromise until mid to late january. if we don't get things in order by february that's when things can start to get ugly for the markets....
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Nov 8, 2012
11/12
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KQEH
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but now that they know president obama has won a second term? what decisions will business leaders make? that's what i asked gary loveman today. he's the c.e.o. of caesars entertainment; he runs the largest gaming company in the world. >> i don't think we will do anything differently as a result of the election at this point. i think once we see whether there will be a tax for fiscal sanity, that will help. we have this so-called fiscal cliff emergency that is before us. if that fails to be resolved, you'll see a level of contraction in all hands on deck activities. it will be very disturbing. >> suzanne: if there is no deal on this fiscal cliff, what does that mean for your business? >> i think it will be very, very damaging to a consumer discretionary business, and others similar to it. because you'll see an immediate reduction in economic activity, of the sort we have not run into since the arab oil embargo, where all of a sudden, on a precise moment, economic activity will slow very substantially. you can see a period where it begins to slow
but now that they know president obama has won a second term? what decisions will business leaders make? that's what i asked gary loveman today. he's the c.e.o. of caesars entertainment; he runs the largest gaming company in the world. >> i don't think we will do anything differently as a result of the election at this point. i think once we see whether there will be a tax for fiscal sanity, that will help. we have this so-called fiscal cliff emergency that is before us. if that fails to...
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Nov 14, 2012
11/12
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traders are waiting to hear what happens at an important white house meeting on friday between president obama and congressional leaders. they will be talking about ways to solve the so-called "fiscal cliff" dilemma. investors appear cautious about making any big moves until they know whether the cliff will trigger increases in capital gains and dividend taxes. the dow fell almost 59 points, the nasdaq lost 20, and the s&p was down five. meanwhile, in washington, congress returned to work for the first time since september. lawmakers face a long "to-do list," and getting a deal on that fiscal cliff is right at the top. darren gersh reports. >> reporter: it was freshman welcome day in washington. senate republican leader mitch mcconnell lost ground in the election, but he posed for the cameras with the three new senators who will be joining his side of the aisle in january. in the house, minority leader nancy pelosi beamed as she presented the new faces adding to democratic ranks in the coming congress. given what awaits these new lawmakers in january, you might wonder why they want the job. it
traders are waiting to hear what happens at an important white house meeting on friday between president obama and congressional leaders. they will be talking about ways to solve the so-called "fiscal cliff" dilemma. investors appear cautious about making any big moves until they know whether the cliff will trigger increases in capital gains and dividend taxes. the dow fell almost 59 points, the nasdaq lost 20, and the s&p was down five. meanwhile, in washington, congress returned...
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Nov 21, 2012
11/12
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KRCB
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obama's recovery has 10 million unemployed people. more jobs, more people working, more revenue. that is what boehner said a year ago, that he wanted to do in some sort of grand bargain, and that's what he said again. >> but when the speaker came out of the meeting at the white house, he said he was open t doing the tough things, putting more tax revenues on the table, closing more tax loopholes. aren't we arguing over semantics? >> i have not heard a shift from revenues from growth and tax reform. however, that said, the republicans, looking at an agreement, are waiting for president obama to put anything on the table. >> but if the republican leadership does some kind of deal with the president, where they raise tax rates, but in return they get deep entitlement savings, they do something like a 2 trillion-dollar grand bargain, that cuts the deficit over the next 10 years, are you still going to go aft republicans who vote for that? >> you have so many hypotheticals there. we have had this conversation for the past two years, and the democrats refused to be any part of reducing
obama's recovery has 10 million unemployed people. more jobs, more people working, more revenue. that is what boehner said a year ago, that he wanted to do in some sort of grand bargain, and that's what he said again. >> but when the speaker came out of the meeting at the white house, he said he was open t doing the tough things, putting more tax revenues on the table, closing more tax loopholes. aren't we arguing over semantics? >> i have not heard a shift from revenues from growth...
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Nov 17, 2012
11/12
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KQED
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president obama and congressional leaders got off to a good start in their first round of negotiations. the president met with congressional leaders who emerged later to say they want to move quickly to prevent automatic spending cuts and tax increases from tanking the economy at the first of the year. but as darren gersh reports, what we are not yet clear about is whether either side is willing to give up enough to get the job done. >> reporter: in washington, they think carefully about the pictures they want to present to the public so this mattered. all four congressional leaders-- democrats and republicans-- after meeting with the president chose to face the cameras together. that hardly ever happens and it reflects the new post-election mood of cooperation. house speaker john boehner called the meeting very constructive. >> i outlined a framework that deals with reforming our tax code and reforming our spending. and i believe the framework that i've outlined in our meeting today is consistent with the president's call for a fair and balanced approach. >> reporter: to republican le
president obama and congressional leaders got off to a good start in their first round of negotiations. the president met with congressional leaders who emerged later to say they want to move quickly to prevent automatic spending cuts and tax increases from tanking the economy at the first of the year. but as darren gersh reports, what we are not yet clear about is whether either side is willing to give up enough to get the job done. >> reporter: in washington, they think carefully about...
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Nov 6, 2012
11/12
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KQEH
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so jeffing i'm sure a lot of people are asking you is obama on romney better for the markets. and what dow say, without is better for stocks? >> well, it's complex answer because it really matters what the wholeci complexion of washington looks like t really comes do c in many cases to who wins in the senats do we have an gop sweep with a romney win or do you still have a democratic senate that can really change the complexion of what this lame duck lex looks like and what the status quo election may lend itself to a quick res luig of a lame duck session so a lot depends not just on the without wins the ovalgo office but its next two years in congress looks like. >> susie: so talk us through that. say president o ba am a wins the election but you have republicans dominating in congress.le what does that mean or the stock market. and vice veeasa, if romneysa becomes president romney and he has a democratic congressne, if he has to grapple with. >> i will service its second one first, if romney has to deal with a democratic songress, really a democratic senate the house probably
so jeffing i'm sure a lot of people are asking you is obama on romney better for the markets. and what dow say, without is better for stocks? >> well, it's complex answer because it really matters what the wholeci complexion of washington looks like t really comes do c in many cases to who wins in the senats do we have an gop sweep with a romney win or do you still have a democratic senate that can really change the complexion of what this lame duck lex looks like and what the status quo...
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Nov 14, 2012
11/12
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WETA
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>> tom: with 47 days left for president obama and congress to agree on avoiding a combination of higher taxes and government spending cuts, the president today said he won't extend tax cuts for people who don't need them. that hard line came during a white house press conference just as a negotiations with republican leaders get underway to avoid the fiscal cliff. as darren gersh reports from washington, even before republicans and democrats sit down to talk on friday, both sides are laying down markers. >> reporter: just two days before he meets with congressional leaders, the president took a tougher tone on budget talks. in his news conference, he pushed hard for an immediate extension of tax cuts for everyone making less than $250,000 a year. >> and by the way, that means every american, including the wealthiest americans get a tax cut. it means that 98% of all americans, and 97% of all small businesses won't see their taxes go up a single dime. the senate has already passed a law like this. democrats in the house are ready to pass a law like this and i hope republicans in the house
>> tom: with 47 days left for president obama and congress to agree on avoiding a combination of higher taxes and government spending cuts, the president today said he won't extend tax cuts for people who don't need them. that hard line came during a white house press conference just as a negotiations with republican leaders get underway to avoid the fiscal cliff. as darren gersh reports from washington, even before republicans and democrats sit down to talk on friday, both sides are...
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Nov 15, 2012
11/12
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KRCB
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president obama says he's open to new ideas, on raising government revenues, but eliminating tax deductions for the rich doesn't go far enough. >> susie: i'm susie gharib. stocks slide to four-month lows, on worries that a fiscal cliff deal is a still a long way off. >> tom: and with a national health care insurance overhaul underway, a company's share of health insurance has risen at its smallest pace in a decade. >> susie: that and more tonight on "n.b.r."! >> tom: with 47 days left for president obama and congress to agree on avoiding a combination of higher taxes and government spending cuts, the president today said he won't extend tax cuts for people who don't need them. that hard line came during a white house press conference just as a negotiations with republican leaders get underway to avoid the fiscal cliff. as darren gersh reports from washington, even before republicans and democrats sit down to talk on friday, both sides are laying down markers. >> reporter: just two days before he meets with congressional leaders, the president took a tougher tone on budget talks. in his news
president obama says he's open to new ideas, on raising government revenues, but eliminating tax deductions for the rich doesn't go far enough. >> susie: i'm susie gharib. stocks slide to four-month lows, on worries that a fiscal cliff deal is a still a long way off. >> tom: and with a national health care insurance overhaul underway, a company's share of health insurance has risen at its smallest pace in a decade. >> susie: that and more tonight on "n.b.r."!...
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Nov 2, 2012
11/12
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WMPT
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i mean, certainly the obama administration would have wanted to see these relatively strong job numbers three months ago because the standard sort of political wisdom is that you need about six months of job improvement for people to actually feel better and for the incumbent to benefit. this good news is coming a little late for the president. it's ironic, whoever wins is going to inherit an improving job market. >> tom: of course it comes plenty of early voting already under way across the united states. in washington, d.c. tonight, it's our bureau chief, darren gersh. >> reporter: thanks, tom. >> tom: still ahead, the new york city marathon is cancelled. what it means for advertisers of this world class event. that encouraging employment report didn't do much for stocks on wall street. stocks opened higher, but sellers took over. the dow closed down 139 points, the nasdaq lost almost 38 points, the s&p closed off 13. for the week, the dow fell 0.1%. the nasdaq was down 0.2%. the s&p gained 0.2% this week. we'll talk more about the markets a little later in the program with our friday
i mean, certainly the obama administration would have wanted to see these relatively strong job numbers three months ago because the standard sort of political wisdom is that you need about six months of job improvement for people to actually feel better and for the incumbent to benefit. this good news is coming a little late for the president. it's ironic, whoever wins is going to inherit an improving job market. >> tom: of course it comes plenty of early voting already under way across...
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Nov 8, 2012
11/12
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with president obama being re-elected and status quo in terms of the balance of power on capitol hill, what can we expect in terms of banking regulations going forward? >> clearly more regulations. banks are going to have to be stronger. they're going to have to come up with these plans, what happens if they get into trouble. but much more regulation across-the-board. >> tom: what does it mean for shareholders? >> shareholders are being to have some issues with financial stocks. clearly because these additional kline's costs are going to mean greater costs overall to the banks and not as much profit. so the stronger banks will get in the different areas but so many of the weaker banks will have to be merged out. >> tom: another big voice for banking regulations will now be in the united states senate, this is elizabeth warren. she was elected as a democrat from massachusetts for the u.s. senate on election day. she has got quite the resume as chair of the tarp oversight committee and a special advertiser, was a special advertiser to the consumer financial protection board. what does s
with president obama being re-elected and status quo in terms of the balance of power on capitol hill, what can we expect in terms of banking regulations going forward? >> clearly more regulations. banks are going to have to be stronger. they're going to have to come up with these plans, what happens if they get into trouble. but much more regulation across-the-board. >> tom: what does it mean for shareholders? >> shareholders are being to have some issues with financial...
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Nov 29, 2012
11/12
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KQED
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." >> susie: a parade of business leaders in washington today to persuade president obama and congress to avoid the fiscal cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the other side. the president called on americans to tweet, facebook and call members of congress to tell them to pass tax cuts for everyone making less that $250,000 a year. >> 97% of small businesses would not see their income tax go up by a single dime. even the wealthiest americans would still get a tax cut on the first $250,000 of their income. >> reporter: the speaker dismissed a call from a fellow republican to give the president what he wants, saying it's not good economics to raise tax rates on small businesses. >> going over the fiscal cliff will hurt our economy and hurt job creation in our country. this is no
." >> susie: a parade of business leaders in washington today to persuade president obama and congress to avoid the fiscal cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the...
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Nov 15, 2012
11/12
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." >> susie: tomorrow is a big deadline for president obama's health care insurance reform. it's the day states across the country must decide if they will be setting up their own health insurance exchanges, or if they will opt out and let the government do it for them. sylvia hall takes a look at the exchanges, how they'll work, and how they will impact the way americans pay for care. >> reporter: the idea behind state health insurance exchanges is pretty simple-- the uninsured will have a central place to shop for health insurance. all plans will meet minimum coverage requirements and no one is turned down. in exchange, health insurance companies get more healthy customers, costing them less, because virtually everyone is required to buy health insurance. for those who can't afford it, the federal government provides subsidies. >> it's a little bit of a grand bargain that's been struck with the insurance industry-- you stop doing some of that cherry- picking behavior that's been so problematic, and in return, we'll guarantee you that there will be a steady stream of custom
." >> susie: tomorrow is a big deadline for president obama's health care insurance reform. it's the day states across the country must decide if they will be setting up their own health insurance exchanges, or if they will opt out and let the government do it for them. sylvia hall takes a look at the exchanges, how they'll work, and how they will impact the way americans pay for care. >> reporter: the idea behind state health insurance exchanges is pretty simple-- the...